Mike Norman Economics

We're in the exact same position we were in when I read this book almost 30 years ago: Nothing has changed... no cognitive adjustment has ever been made by the Liberal Art trained morons in control... none... zero... zip... nada...

Unqualified Art Degree morons still in control; arguing with each other based on their "out of money!" cognitive error.Nothing has changed... The Trump administration late Thursday gave Democrats a menu of $574 billion in savings options from which to find $150 billion to offset the costs of a two-year budget cap agreement.  The official described the White House demand as a starting point. Roughly half of the administration proposals are cuts and the others come from reforms, two...

Their independence will shrink to policy execution, she says Says Japan policy flawed by hitting gas and brakes together Looks like the last mile has closed.Bloomberg MMT's Kelton Sees Central Banks Quietly Yielding to Governments Yuko Takeo and Masahiro Hidaka

US recessions are like epidemics: they all begin somewhere, and the “tell” is state-level unemployment data. For example, the end of the 2000 dot com bubble hit Connecticut and Massachusetts first – two hubs for the financials services industry with lots of affluent investors to boot. The end of the 2000s housing boom predictably impacted Florida and Nevada before the rest of the country. This time around, the data shows the manufacturing-heavy states of Michigan, Ohio and Indiana are most...

Europe has had near zero interest rates for 5 years and is now considering negative interest rates to help its failing economy. But could the Federal Reserve be about to lower interest rates to near zero too? [embedded content] European Central Bank is floating a ridiculous proposal to introduce “negative interest rates.” Rick Sanchez describes the economic horror that will arise. Meanwhile, the Federal Reserve intends to cut interest rates yet again. Rick Sanchez breaks down what this...

Steve Bell is the cartoonist at the Guardian. His cartoons are pretty excellent and he was always very radical and left, but I did fear he was following the Guardian line too with some of his anti Putin cartoons. But it seems he's not really in line with them after all. He's pretty angry about the Guardian’s treatment of Jeremy CorbynThe Guardian and Steve Bell are heading for the rocks, it seems. Paradoxically it's over the Guardian banning his new cartoon strip. It shows Tom Watson as the...

It has been found human consciousness is not necessary to bring the universe into existance because the universe observes itself. But that doesn't mean it's conscious in the way we are. [embedded content]

Abigail Disney says Bernie is uninspiring and the young want something new,  something radical, something different - well, MMT popped into my mind. It's coming!Abigail says she's naturally a Democrat, but really, she is probably more to the left of them - a progressive. [embedded content] Disney heiress Abigail Disney joins “Through Her Eyes” to share what it was like to grow up in the Disney family. “My parents were conservative and very strict. And both alcoholics.” She claims she never...

Looks like Mnuchin knows the typical 1 Sept first of the month BIG drop in the TGA might not be possible... they have been exhausting the 'Extraordinary Measures' in an attempt to stabilize the TGA at higher levels... with limited success... once those 'measures' are exhausted it appears they think the TGA is going to quickly collapse .... creating a fast bearish increase in Reserve Assets again... which will top when they finally suspend the Debt Ceiling... .@stevenmnuchin1 on debt...

Modern monetary theory (MMT) has recently gained prominence in light of doubts about the effectiveness of monetary policy in addressing economic shortfalls. This column assesses the implications of implementing the theory’s policy prescriptions, and the challenges it presents in the case of Japan – an economy that some have argued has already been subject to such policy. Japan’s labour shortages and low inflation mean modern monetary theory’s fiscal stimulus suggestions may be harder to...